Healthcare of Ontario Pension Plan Trust Fund Decreases Stake in Beta Bionics, Inc. $BBNX

Healthcare of Ontario Pension Plan Trust Fund trimmed its holdings in shares of Beta Bionics, Inc. (NASDAQ:BBNX) by 58.8% during the first quarter, Holdings Channel reports. The fund owned 546,132 shares of the company’s stock after selling 780,968 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Beta Bionics were worth $5,472,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BBNX. Strs Ohio acquired a new stake in Beta Bionics during the 1st quarter valued at approximately $29,000. Summit Securities Group LLC acquired a new position in shares of Beta Bionics in the 4th quarter valued at approximately $52,000. Legal & General Group Plc raised its position in shares of Beta Bionics by 197.4% in the 2nd quarter. Legal & General Group Plc now owns 3,976 shares of the company’s stock valued at $58,000 after purchasing an additional 2,639 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of Beta Bionics by 1,075.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,987 shares of the company’s stock valued at $61,000 after buying an additional 1,818 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Beta Bionics during the first quarter worth approximately $95,000.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BBNX. Stifel Nicolaus cut their price target on shares of Beta Bionics from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, April 22nd. Leerink Partners decreased their price objective on shares of Beta Bionics from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Wednesday, April 22nd. Bank of America dropped their target price on shares of Beta Bionics from $23.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday, May 18th. UBS Group initiated coverage on shares of Beta Bionics in a research report on Tuesday. They set a “buy” rating and a $22.00 price target on the stock. Finally, The Goldman Sachs Group lifted their price target on Beta Bionics from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.10.

Beta Bionics Stock Performance

Shares of NASDAQ:BBNX opened at $15.17 on Thursday. The company’s fifty day moving average is $14.89 and its two-hundred day moving average is $13.26. Beta Bionics, Inc. has a 1-year low of $8.80 and a 1-year high of $32.71. The stock has a market capitalization of $675.98 million, a price-to-earnings ratio of -10.05 and a beta of 3.04.

Beta Bionics (NASDAQ:BBNX) last posted its quarterly earnings results on Wednesday, July 29th. The company reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.62) by $0.09. Beta Bionics had a negative net margin of 60.27% and a negative return on equity of 23.00%. The business had revenue of $32.01 million during the quarter. Sell-side analysts expect that Beta Bionics, Inc. will post -2.22 EPS for the current fiscal year.

Insider Transactions at Beta Bionics

In other Beta Bionics news, Director Christy Jones sold 2,811 shares of Beta Bionics stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $14.00, for a total value of $39,354.00. Following the completion of the transaction, the director directly owned 27,400 shares in the company, valued at $383,600. The trade was a 9.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Jon Russell sold 4,222 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $12.61, for a total value of $53,239.42. Following the transaction, the insider directly owned 173,849 shares of the company’s stock, valued at $2,192,235.89. This trade represents a 2.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 40,351 shares of company stock valued at $553,961 over the last ninety days. Insiders own 5.30% of the company’s stock.

About Beta Bionics

Beta Bionics, a clinical-stage medical device company headquartered in Boston, Massachusetts, is focused on revolutionizing the management of type 1 diabetes through automated insulin delivery solutions. The company’s flagship product, the iLet Bionic Pancreas system, is designed to simplify glycemic control by automatically adjusting insulin dosing in response to continuous glucose monitoring data. By integrating advanced algorithmic control with wearable infusion pumps, the iLet aims to reduce the daily burden of diabetes management and improve clinical outcomes for patients.

At the core of Beta Bionics’ offering is its proprietary bionic pancreas software, which can operate in both insulin-only and dual‐hormone modes.